This week, several key developments in the UAE have emerged, including the unveiling of new petrol prices for May, updates to education certificate recognition regulations, the announcement of Trump Tower in Dubai, and insights from a viral chocolate maker. From tax compliance initiatives to luxury real estate projects, catch up on 10 major stories you may have missed.
New UAE Tax Rule Introduced
The UAE has rolled out new tax regulations aimed at encouraging compliance by waiving fines for late tax registrations. This initiative, announced by the Ministry of Finance (MoF) and the Federal Tax Authority (FTA), allows corporate taxpayers and selected exempt entities to avoid penalties if they submit their tax registration applications within a seven-month period following their first tax period, as outlined in the Corporate Tax Law.
This decision aims to foster compliance and incentivize taxpayers to file their returns or annual statements ahead of deadlines, reflecting a proactive approach from the MoF and the FTA.
Recognition of Higher Education Certificates Updated
The UAE has introduced significant updates to its framework for recognizing foreign higher education qualifications. The Ministry of Higher Education and Scientific Research (MoHESR) has enacted Ministerial Resolution No. (34) of 2025, which establishes new guidelines for the verification and authentication of credentials from international higher education institutions (HEIs).
This resolution mandates strict conditions, including the verification of a qualification’s legitimacy and the requirement that the issuing HEI must be legally established, licensed, and accredited by the relevant authority in its home country.
May Petrol Prices Announced in UAE
The UAE Fuel Price Committee has revealed new petrol prices for May 2025. Following a notable decrease in April, the prices have slightly increased. Starting May 1, the costs per litre will be:
- E-Plus: AED2.39, up from AED2.38 in April
- Special 95: AED2.47, up from AED2.46 in April
- Super 98: AED2.58, up from AED2.57 in April
- Diesel: AED2.52, down from AED2.63 in April
Dubai RTA Opens New Flyover
Dubai’s Roads and Transport Authority (RTA), in collaboration with Etihad Rail, has inaugurated a new 1.8 km flyover aimed at improving traffic flow to and from Dubai Investment Park. This new structure on Al Yalayis Street features three lanes and includes right-turn slip roads for better access to Sheikh Zayed Road.
Exclusive: Insights from the Creator of Viral ‘Dubai Chocolate’
In an exclusive revelation, Philippine chef Nouel Catis, who co-created the highly successful pistachio kunafa chocolate in Dubai, has shared his experience as an original investor before stepping back from the venture. Despite his initial involvement, he watched from the sidelines as the product skyrocketed in popularity. Catis expressed, “It was really the intention to have an equal partnership, where I put my money into the technical side, the operational side, while she [Sarah Hamouda] does the branding [and] marketing.”
Exclusive Interview: Mirwais Azizi – Visionary Behind Billion-Dollar Developments
In a rare interview at the Conrad Hotel in Dubai, billionaire Mirwais Azizi, founder of Azizi Developments, provided a glimpse into his extensive portfolio and future plans, including the upcoming Burj Azizi, expected to be the world’s second tallest tower. Despite the opulence surrounding him, Azizi displayed an approachable demeanor, emphasizing the importance of thorough documentation and intentionality in his business dealings. He noted, “Nobody comes in this world with money,” reflecting on his journey and vision for the future of Dubai’s skyline.
UAE Launches Ambitious ‘Downtown UAQ’ Project
During a significant event at the UAQ Chamber of Commerce & Industry, the Crown Prince of Umm Al Quwain, Sheikh Rashid bin Saud bin Rashid Al Mualla, unveiled an ambitious plan for a massive development named Downtown UAQ. Touted as a ‘Coastal City Within a City’, the project spans an impressive 25 million square feet and boasts 11 kilometers of coastline, including 7 kilometers of beach park. This extensive initiative includes three themed districts: North Beach, Trade Centre, and South Beach.
Trump International Hotel and Tower Coming to Dubai
Dar Global and The Trump Organisation have announced the launch of the Trump International Hotel and Tower in Dubai. This landmark project will be the first Trump International Hotel and Tower in the Middle East, marking the fifth collaboration between the two firms on various developments. The tower will rise 350 meters and offer 80 floors, featuring luxury accommodations, private lounges, and world-class amenities.
Surge in Demand for Branded Residences in Dubai
Dubai’s real estate market is witnessing an unprecedented boom in the branded residence sector, driven by high-net-worth individuals seeking exclusive properties. According to Omar Elammary, Partner at Driven Properties, buyers are willing to pay up to a 69% premium per square foot for branded residences compared to their non-branded counterparts. Over 13,000 branded units were sold in 2024 alone, making Dubai a global leader in luxury properties aligned with international brands.
Saudi Arabia Announces Tax Update
Saudi Arabia’s Zakat, Tax, and Customs Authority (ZATCA) has encouraged taxpayers to utilize a waiver on fines and penalties before the initiative expires on June 30. This cancellation initiative covers late registration penalties, late payment fees, and issues related to VAT return corrections, aiming to streamline compliance and alleviate financial burdens on taxpayers.